Third Quarter 2002 Investor Update October 2002

2 Safe Harbor Statement P P ortions of this presentation are forward-looking and, as such, reflect only the Company’s best assessment at this time. Investors are cautioned that forward-looking statements involve risks and uncertainty, that actual results may differ materially from such statements and that investors should not place undue reliance on such statements. Factors that may affect actual results include, but are not limited to potential regulations; the Company’s ability to effectively manufacture, market and distribute new products; the success of the Company’s operating plans; regional weather conditions; and the condition of the industry and the economy. For a further discussion of risk factors, investors should refer to the Company’s Securities and Exchange Commission reports, including, but not limited to, Form 10-K for the quarter ended June 30, 2001.

Third Quarter 2002 Operating Results

4 Income Statement - 3rd Quarter

5 *2002 (First Nine Months Actual & 4th Quarter Forecast) Sales Seasonality

6 Third Quarter Sales Service Center Sales3rd Quarter Sales

7 Third Quarter Sales - Channels 3.6% 2.0% (16.2)%

8 Third Quarter Sales - Products *Other includes Pest Control, Golf Accessories, Irrigation, and Miscellaneous. (6.3)% 2.3% 14.0% (3.7)% (3.5%)

9 Gross Profit on Sales 33.8%28.9%33.0%33.9% %’s are percent of sales.

10 Expenses - Total

11 Expenses - Components

12 Interest Expense

13 Net Income Before One-time Gain Note : Excludes one-time gain for sale of former corporate offices of $0.2 million.

14 EPS Before One-time Gain (fully diluted) Note : Excludes one-time gain for sale of corporate offices of $0.2 million.

First Nine Months 2002 Operating Results

16 Income Statement First Nine Months 2002

17 First Nine Months Sales ( ) Service Center Sales First Nine Months Sales

18 First Nine Months Sales - Channels ( ) 5.1% (0.7)% (7.5)%

19 First Nine Months Sales - Products ( ) *Other includes Pest Control, Golf Accessories, Irrigation, and Miscellaneous. (7.0)% 4.3% 2.0% (1.3)% 0.4%

20 Gross Profit on Sales 33.6%31.0%34.0%34.1% %’s are percent of sales. * Excluding inventory markdown charges

21 Expenses - Total * Excluding one-time charges.

22 Expenses - Components

23 Net Income Before One-time Gain and Charges Note : Excluding third quarter one-time pre-tax gain for sale of the Company’s former headquarters of $0.2 million; second quarter total one-time charges of $23.4 million comprised of inventory markdown of $9.6 million, manufacturing rationalization of $12.0 million, and severance expense of $1.8 million; and first quarter charges of severance expense of $2.0 million, extraordinary charge for debt refinancing of $4.6 million, $2.9 million net of tax, and cumulative effect of accounting change for goodwill charge of $7.3 million, $4.6 million net of tax.

24 EPS Before One-time Gain and Charges Note : E xcludes third quarter one-time pre-tax gain for sale of the Company’s former headquarters of $0.2 million; second quarter total one-time charges of $23.4 million comprised of inventory markdown of $9.6 million, manufacturing rationalization of $12.0 million, and severance expense of $1.8 million; and first quarter charges of severance expense of $2.0 million, extraordinary charge for debt refinancing of $4.6 million, $2.9 million net of tax, and cumulative effect of accounting change for goodwill charge of $7.3 million, $4.6 million net of tax).

September 30, 2002 Balance Sheet & Cash Flows

26 Consolidated Balance Sheet (a) As of 6/30/01 and 12/31/01, LESCO had sold trade receivables in securitization transactions totaling $35.0 million and $31.2 million, respectively.

27 Consolidated Statement of Cash Flow

28 Working Capital Investment (a) Excludes $5.8 million of accruals relative to asset rationalization and severance costs and $1.1 million of the current portion of long-term debt. (b) Excludes $4.9 million of accruals relative to asset rationalization and severance cost and $1.1 million on the current portion of long-term debt.

29 Borrowings Under Debt Facilities (a) The above has been adjusted for the asset securitization: 2Q01 of $35.0 million, 3Q01of $37.0 million and 4Q01 of $31.2 million.

Full Year Guidance

31 Sales growth 0-1%; was 2-4%Sales growth 0-1%; was 2-4% GM% increase over 200 bps; was 150 bpsGM% increase over 200 bps; was 150 bps ExpensesExpenses Non-selling - flatNon-selling - flat Selling - $3.0 million increaseSelling - $3.0 million increase EPS in the range of $ $0.70*EPS in the range of $ $0.70* ROIC - greater than 5%ROIC - greater than 5% 2002 Forecast *Excludes third quarter one-time pre-tax gain for the sale of the company’s former headquarters of $0.2 millionand one-time charges for inventory markdown of $9.6 million, manufacturing rationalization of $12.0 million, severance expense of $3.8 million, debt restructuring of $2.9 million, net of taxes, and FASB No. 142 of $4.6 million, net of taxes. *Excludes third quarter one-time pre-tax gain for the sale of the company’s former headquarters of $0.2 million and one-time charges for inventory markdown of $9.6 million, manufacturing rationalization of $12.0 million, severance expense of $3.8 million, debt restructuring of $2.9 million, net of taxes, and FASB No. 142 of $4.6 million, net of taxes.

32 New Store Model Model

33 New Store Model - Assumptions ($’s in 000’s)

34 New Store Model - Sales Ramp ($’s in 000’s) Note: Average store cannibalization of existing stores is included in the above sales numbers.

35 New Store Model - EBIT Ramp ($’s in 000’s)

36 New Store Model - ROIC ($’s in 000’s)

37 Hub and Spoke Update

38 Retrofitted Manufacturing Warehouses into Distribution Hubs –Avon Lake, Sebring, Hamilton Implemented Off-Hour Replenishments to Service Centers Implemented Back Haul Transportation Program Implemented Regional Logistical Management Network with Sales Force Realignment Implemented Strategic Forecasting Tool (GAINS) Throughout the Supply Chain Network Accomplishments to Date

39 Opened Westfield Distribution Hub (August 2002) Hub Leases Signed (September 2002) –Atlanta, GA –Chicago, IL –Plano, TX Relocated Stockton Distribution Hub (September 2002) Accomplishments to Date

40 Future Service Network Blue circle - one day delivery Red circle - two day delivery PLANO, TX STOCKTON, CA CHICAGO, IL SEBRING, FL MINNEAPOLIS, MN (3pl) AVON LAKE, OH CENTRAL ISLIP, NY (3pl) WESTFIELD, MA HAMILTON, NJ CHARLOTTE, NC ATLANTA, GA

41 Questions&Answers